Discover and read the best of Twitter Threads about #currency

Most recents (24)

Although #China’s capital account today has basically realized convertibility, there remain many restrictions on cross-border #capital flows. What is a proper timing for China to open up its capital account? Prof Huang Yiping offers his perspectives:

mp.weixin.qq.com/s/9vGWq_hYC5Ge… 1/7
This is a controversial issue. Some believe China should step up efforts right now; others say it’s not a good timing. Prof Huang previously thought the best timing for this is when the macroeconomic environment is stable...2/7
...with strong growth, stable inflation, fiscal balance, balance of payments surplus, and a properly valued currency, because under these conditions investors are confident in capital account opening, and it’s easier to prevent against asset price slumps or capital flights...3/7
Read 7 tweets
1. News: EXCITING BIKE RALLY!! Antifa Goons Go to Sturgis Biker Rally — BIG MISTAKE — Need Police Protection for Their Escape - 8.16.20 Thread

(VIDEO)

Article: thegatewaypundit.com/2020/08/antifa… #TRUMP #StandUp #ANITFA #STURGIS
2. News: InfoWars Reporter – Millie Weaver – Arrested This Weekend Shortly After Releasing “Shadowgate” a New Documentary on Social Media Psychological Warfare Used Against the American Public thegatewaypundit.com/2020/08/infowa… #TRUMP #TRUMP2020 #StandUp
3. News: Top Democrats rooting for the enemy:

Rep. Rashida Tlaib & Obama Security Advisor Ben Rhodes joined Iranian regime & Turkey in condemning Iranian Regime in Condemning Historic Peace Deal Between #Israel &d UAE thegatewaypundit.com/2020/08/top-de… #Trump #Infiltrated #UAE #PeaceDeal
Read 55 tweets
All categories of #mutualfunds (including ETFs) would be covered under #stampduty charges for units issued in demat & non-demat form. It will cover equity, derivatives & currency trades. Stamp Duty = Direct Tax levied by the govt. u/s 3 of Indian Stamp Act, 1899. @AmarUjalaNews
#StampDuty charges:

Equity (delivery) - 0.015% or ₹1,500 per crs on buy-side

#Equity (intra-day) - 0.003% or ₹300 per crs

#Futures (equity & #commodity) - 0.002% or ₹200 per crs

#Options (equity & commodity) - 0.003% or ₹300 per crs

#Currency - 0.001% or ₹10 per crs
- The #stampduty will also be applicable on #AlternativeInvestmentFunds (AIFs)

- Impact is more on the short term #investments by the #investors

- No stamp duty on #redemption of #mutualfund units.

- Impact at #portfolio level too i.e when fund manager executes transaction.
Read 7 tweets
Why Hong Kong is important for China !! See the statistics for yourself !!
1530 multinationals have their regional headquarters in Hong Kong according to the Hong Kong government (InvestHK, 2019). This is an increase of two-thirds since 1997.
In 2018, United States- based companies had the largest number of regional headquarters (290) and regional offices (434) in Hong Kong, followed by Japanese and Mainland Chinese firms (Census and Statistics Department, 2018b).
Read 19 tweets
One perspective on what's good and bad about the extensive monetary easing by CF40 Senior Fellow Zhang Bin, and CF40 research fellows Zhang Jiajia and Zhong Yi: mp.weixin.qq.com/s/DfLFMg2Wxan4…

Monetary easing has stabilized the global financial market and bolstered up economic recovery.
Timely and targeted easing measures have added to liquidities in the market, sustained businesses and employment by channeling loans to enterprises and households, mitigated impacts of world economic downturn and sluggish demands for global trade, and spurred economic recovery.
However, the extensive easing has had negative impacts on the capital flows and exports of emerging markets. It has steered excessive liquidities toward emerging markets, placing on them much pressure of currency appreciation, capital price hike and leveraging up.
Read 5 tweets
1/n

"If we continue this #jingoism, when #Bitcoin surpasses #fiatmoney, for a large section of #peoples, it will just be one kind of currency they didn't understand replaced by another #currency they don't understand. Was that what #Satoshi would've wanted?"

- @nonnis_luciano
2/n

On that note, @d_xone brings to you 10 #Bitcoin proponents that take the pains to explain what goes on behind the curtain in true #feynman style.

Do you follow them all? If not, what are you waiting for?

#LearningNeverStops
3/n

At #10 is @Bitcoin - Clocking in at 1M #followers, this takes the #10 spot. Been advocating #BTC and exposing shills longer than everybody else, @Bitcoin is the real #OG. When it comes to bitcoin #maximalism, this one takes the cake.

Latest Tweet:
Read 13 tweets
#Iran #Teheran #Currency #Rial

In response to rampant inflation, Iran is cutting four digits from its local currency. The project, which was announced last year, has now been approved by Parliament, as the ISNA news agency reports.
In addition, the name of the currency is changed from Rial to Toman. This is already widespread among the population, with one toman corresponding to ten rials. The deletion has been discussed since 2008.
The idea gained popularity after new sanctions were imposed on Iran in 2018 under US President Donald Trump. This hit the rial hard, it has now lost more than 60 percent in value. The hyperinflation repeatedly led to protests.
Read 6 tweets
In the future, we will (have to) talk about a #wealth tax to pay for the economic and fiscal fallout of #Covid19. Germany had a massive one after #WW2. Here is how it worked. /thread
After WW2, Germany faced many challenges. One was, how to compensate those who had lost wealth because of #war damage, #currency reform in 1948, expropriation or eviction from the East. /2
Currency reform had reduced financial assets considerably. Everyone could exchange 60 #Reichsmark into 60 D-Mark. Wages and rents were converted 1:1. But savings were devalued heavily. For example, 1000 RM to just 65 D-Mark. /3
Read 12 tweets
Am thinking it’s time for another #museum #TwitterTour—get ready....Catch the wave 🌊 & get ready for #Hokusai at the @smithsonian @FreerSackler #FreerSackler & a stop at @SIGardens 🇺🇸🇯🇵 #MadAboutHokusai Hokusai: Mad about Painting #北斎 
👉asia.si.edu/exhibition/hok…
🐉🤳 ImageImageImageImage
Have a read: a timeline of the man behind the iconic 🌊 #wave.
#MadAboutHokusai #JapaneseArt #Hokusai @FreerSackler

DYK: Hokusai Katsushika (d. 1849) created his most striking works after he turned 80 (& lived to 90). 🙌 #thefutureofaging @MIAging @Paul_Irving1 @psb_dc 🖖 #北斎 ImageImageImageImage
DYK: #Japan's passports will now feature iconic artwork from the legendary artist #Hokusai.

Learn more about his influential work via the @FreerSackler's #MadAboutHokusai exhibit, featuring over 120 works on display until Nov 8th! #北斎 @JapanEmbDC
washingtonpost.com/entertainment/…
Read 15 tweets
My current #Working #Research #Topic: "A Review of the #CommonMonetaryArea of #SouthernAfrica: Are Client Countries Better-off De-Linking from the #Anchor #Economy?". I'm using #OptimumCurrencyArea #OCA #Theory to analyse the #CMA arrangement. Draft will be ready January end..!
The #CommonMonetaryArea of #SouthernAfrica or #CMA could seem to some (mostly the technically inclined) to be a no-brainer & a clear natural #OptimumCurrencyArea given the historical links between the #anchor #SouthAfrica & the #clients (#Lesotho #Eswatini & #Namibia)...
Be that as it may, 2020 marks 46 years since the #RandMonetaryArea - #RMA agreement and 34 years since the RMA was revised to establish the #CommonMonetaryArea - #CMA between #SouthAfrica, #Lesotho, Swaziland (now, #Eswatini) and #Namibia...
Read 10 tweets
U.S. Treasury released its semi-annual report a few days ago and move China from "#currency manipulator" to “watch list”. Image
Gradually declined after reaching a peak in June 2014, China's #foreignexchange reserves has stabilized around US $ 3 trillion since 2017.
The main purpose of China's foreign exchange market operations in recent years is to “stabilize the foreign exchange reserves”, instead of one-way foreign exchange intervention.
Read 5 tweets
WTF!

Did the leader of the #UN say the #Holocaust didnt start with the #gas #chambers? So why dont you say when it did start? As the world ignored that #jews get hunted once again in #history.The mass #murrder begun with the gas the murrder of the #Nazi time begun with the Nazis
as it was announced that #Hitler took power what did you think happened? The #GESTAPO the secruity poliece of the Nazi hijaked and murrdered thousend of people mainly journalists and people witch fought in the ressistance to save the Weimar republic wich was doomed with the birth
because of the treaty of #Versailles and how you let the situation happen. People wich are #starving, #poor and have no #currency wth worth and nations occupied the industrial area of the #Rheinland, wich was the only one in #Germany.
Read 11 tweets
History shows that the reserve #currency issuer must strike a balance between sufficient international liquidity and stable money value,said CF40 member Guo Kai, mp.weixin.qq.com/s/kCLviAhMXdx4… 1/8
After the #dollar was decoupled from gold, the stability of the international monetary system has been more dependent on the #Fed’s monetary policy, which is inherently unstable, the #internationalfinancialcrisis that erupted in 2008 profoundly reflected the shortcoming. 2/8
After the crisis, the long-term implementation of easy monetary policy and its exit in developed economies has intensified the financial market volatility and the disorderly fluctuation risk of cross-border capital in emerging markets and #developingeconomies. 3/8
Read 8 tweets
Operation Black Gold OR "Why I don’t do discretionary trades anymore..."

Summer 2018: After 6 months of R&D, my team and I had started trading #crude #oil futures based on a #quantitative price-volume pattern. We proudly called it Operation Black Gold.

1/n
Our automatic execution platform wasn't ready yet so I executed all trades manually based on pre-defined risk parameters. The max #risk per trade was supposed to be 2% of the portfolio.

The system worked well and we naive students were thrilled to be making #money!

2/n
As a compulsive #gambler, let me tell you why gambling is so addictive - It’s not so much the winning, but the #thrill of the hazard. A gambler just cannot enjoy a boring existence.

And like that, my impulse took over...

I placed a trade with 10x the pre-defined risk.

3/n
Read 7 tweets
My 116 favorite quotes from Money: Sound and Unsound, by Joseph.T. Salerno (2015)
@jtsale @mises #AustrianEconomics #SoundMoney
1. “The idea of sound #money was present from the very beginning of modern monetary theory in the works of the 16th-century Spanish #Scholastics who argued against debasement of the coinage by the king on ethical and economic grounds”
J.T.Salerno
2. “It was #Fisher and not #Keynes who was the true founder of modern macroeconomics with its aggregative reasoning and its central notion of politically managed fiat money”
J.T.Salerno
Read 118 tweets
The concept that currency #depreciation is good for a country's economic growth is very outdated.It only works under trade channels, because weaker currency can help expand the competitiveness of exports.1/5
Capital accounts in many countries are becoming more open. We must consider the impact of financial channels, which could be just the opposite of trade channels, said Huang Yiping, CF40 Academic Committee Chairman.2/5 cf40.org.cn/uploads/201909…
The depreciation of a #currency could further lead to stronger expectation of depreciation, which may promote more capital outflows, and this actually is not conducive to economic growth. 3/5
Read 5 tweets
My 140 favorite quotes from The Ethics of Money Production (2008), by Jörg Guido Hülsmann
1. #Money is omnipresent in modern life, yet the production of money does not seem to warrant any moral assessment”. J.G.Hülsmann
2. “To be sure, central bank representatives are lecturing the public on the importance of business #ethics; but their concerns do not seem to apply to themselves”. J.G.Hülsmann
Read 142 tweets
1/6 Recently, cryptocurrency has been the focus of intense debate. Zhong Wei, CF40 member and director of the BNU RCIF, analyzed #digital currency from a historical perspective in his keynote speech on Yichun Forum.
mp.weixin.qq.com/s/0rXySU84cwmV… Image
2/6 Zhong said, while the evolution of the #monetary system can be divided into credit and #carrier evolution, the development of #digital #currency is a revolution of carriers rather than #credit. Credit of the private sector shouldn't be in opposition against national credit.
3/6 The establishment of legal #monetary system is based on the dominant national credit, which is superior than the #credit of private sector. The rule prevails in most cases, which is a result of natural selection under the market development.
Read 6 tweets
1/5 HUANG Yiping, Chairman of CF40 Academic Committee and Vice-chairman of NSD at Peking University, said the RMB XR has been increasingly flexible, and XR level is grounded in fundamentals. it is suspicious to label China as a #currency #manipulator.
mp.weixin.qq.com/s/_SJO9IlZK0-y… Image
2/5 Huang said, we must realize there is an outdated concept of #XR, which I think is #Trump’s understanding - #currency #depreciation is good for #economy, as a weaker currency is conducive to #export #competitiveness. In fact, this notion is no longer the case in nowadays.
3/5 As with increasing levels of capital account liberalization among countries, XR impacts on economy through financial channels, depreciation anticipation would lead to further #depreciation, and thus facilitating capital outflow, which would adversely impact on the economy.
Read 5 tweets
(1/5) Exchange rate lies at the core of #financial market. Chen Yuan said, the #Trump administration formally labeled China a #currency #manipulator, further escalating its #trade war with Beijing, which will have an overarching and long-term influence.
mp.weixin.qq.com/s/0fq6pqPaY8g4… Image
(2/5) “The exchange rate dispute is just the beginning of a Currency War”, Chen pointed out that, “#China currently has huge dollar-denominated forex reserves and more than one trillion US treasury bonds. The U.S. has always been vigilant about it out of a #geopolitical concern.”
(3/5) According to Chen, “Once exchange rate ignites the ‘financial war’, the depth and width of the influence will be elevated to an unprecedented level. Neither the US nor China would benefit from it. As for China, we should prepare for the worst and strive for the best.”
Read 5 tweets
1/ AT ONE TIME, EVERY PIECE OF #PAPER MONEY WAS BACKED BY #GOLD. REMEMBER… FOR EVERY 20 DOLLAR BILL… THERE WAS $20 WORTH OF GOLD IN A #GOVERNMENT VAULT. NOT ANYMORE.

TODAY, GOVERNMENTS CREATE #CURRENCY BY FIRST CREATING BONDS OR TREASURY-BILLS.
2/
THESE #BONDS ARE SOLD IN THE #MARKET… GENERATING FUNDS FOR THE GOVERNMENT THAT ISSUED THEM.

LARGE #BANKS BUY U.S. BONDS TO FLIP THEM… SELLING THEM TO THE #FEDERAL RESERVE AT A PROFIT -- THIS IS THE MAGIC MONEY MACHINE. #FED
3/ YOU SEE… THE FED IS AMERICA’S #CENTRALBANK. BUT IT DOESN’T HAVE ANY MONEY, NO #CASH ON ITS BALANCE SHEETS.

WHEN A BANK BUYS A BOND AND TAKES IT TO THE FEDERAL RESERVE, THE FED SIMPLY SAYS “THANK YOU MR. BANKER, HERE’S THE PRINCIPAL AND SOME #PROFIT.”
Read 12 tweets
#CBOE #VIX #volatility index, also known as #WallStreet's "fear gauge" records biggest one-day spike in 10 months
MSCI’s All-Country World Index, which tracks #shares across 47 countries, fell for a six straight day on Monday - marking its longest losing streak this year.
Read 10 tweets
The Next Phase of Trump’s #Trade War with #China by Yu Yongding @ProSyn project-syndicate.org/commentary/nex…
#China remains committed to its 40-year-old process of reform and opening up. But this will require China's leaders to find ways to manage escalating tensions with the US and avoid a costly – and potentially devastating – reconfiguration of the global #economy.
Trump recently announcedthat he would allow US companies to continue to sell to the #Chinese tech giant #Huawei, but it remains highly unlikely that his administration will abandon its efforts to strangle China’s high-tech industries. China has three options:
Read 5 tweets
“The process of #centralization has resulted in #monetary disintegration :”… (1/6)
Democracy: The God That Failed
“… the destruction of the former international commodity (gold) #money standard and its replacement with a #dollar-dominated system of freely fluctuating government paper monies, i.e., a global, U.S.-led government counterfeiting cartel” (2/6)
“However, a system of freely fluctuating paper currencies – the Friedmanite-#monetarist ideal – is strictly speaking no monetary system at all. It is a system of partial barter -dysfunctional of the very purpose of #money of facilitating rather than complicating exchange” (3/6)
Read 6 tweets

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